Using the above information prepare an October 31 statement of cash flows for Ernst Consulting

(The following information applies to the questions displayed below.) On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,850 in assets in exchange for its common stock to launch the business. On October 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common Stock $11,580 14,000 3,140 46,000 17,820 8,400 83,850 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 1,890 14,000 3,390 6,860 880 690 Exercise 1-18 Preparing a statement of cash flows LO P2 Also assume the following: a. The owner's initial investment consists of $37,850 cash and $46,000 in land in exchange for its common stock.. b. The company's $17,820 equipment purchase is paid in cash. c. The accounts payable balance of $8,400 consists of the $3,140 office supplies purchase and $5,260 in employee salaries yet to be paid. d. The company's rent, telephone, and miscellaneous expenses are paid in cash. e. No cash has been collected on the $14,000 consulting fees earned. Using the above information prepare an October 31 statement of cash flows for Ernst Consulting. (Cash outflows should be indicated by a minus sign.) ERNST CONSULTING Statement of Cash Flows For Month Ended October 31 Cash flows from operating activities 0 Cash flows from investing activities 0 Cash flows from financing activities 0